Graham Capital Management L.P. Has $2.79 Million Stake in Carvana Co. $CVNA

Key Points

• Graham Capital Management L.P. increased its stake in Carvana Co. by 77.4% in the first quarter, bringing its total holdings to 13,333 shares valued at approximately $2.79 million.
• Carvana reported a 41.9% increase in revenue year-over-year for the quarter, reaching $4.84 billion, exceeding analyst estimates.
• Analysts have raised their price targets for Carvana, with a consensus target of $383.47, indicating a generally optimistic outlook for the stock's performance.

Graham Capital Management L.P. increased its stake in Carvana Co. (NYSE:CVNA - Free Report) by 77.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,333 shares of the company's stock after purchasing an additional 5,817 shares during the quarter. Graham Capital Management L.P.'s holdings in Carvana were worth $2,788,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. increased its position in Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after buying an additional 1,109,476 shares during the period. Durable Capital Partners LP increased its position in Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after buying an additional 129,246 shares during the period. Whale Rock Capital Management LLC increased its position in Carvana by 29.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock worth $247,017,000 after buying an additional 278,760 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Carvana by 89.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock worth $207,086,000 after buying an additional 481,912 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

Shares of CVNA traded up $8.45 on Thursday, reaching $370.77. 1,407,122 shares of the stock traded hands, compared to its average volume of 4,033,920. The firm has a market cap of $79.79 billion, a price-to-earnings ratio of 92.92, a P/E/G ratio of 1.23 and a beta of 3.51. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. Carvana Co. has a 12 month low of $124.39 and a 12 month high of $413.33. The stock's 50-day moving average price is $349.56 and its 200-day moving average price is $284.40.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The business had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.Carvana's quarterly revenue was up 41.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. Equities analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the topic of several recent analyst reports. Bank of America lifted their price target on Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen raised Carvana from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Robert W. Baird lifted their price target on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Wedbush raised Carvana to a "hold" rating in a research report on Thursday, May 8th. Finally, Royal Bank Of Canada lifted their price target on Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $383.47.

Insider Buying and Selling

In related news, CFO Mark W. Jenkins sold 12,750 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $364.42, for a total value of $4,646,355.00. Following the sale, the chief financial officer owned 208,581 shares of the company's stock, valued at $76,011,088.02. The trade was a 5.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Benjamin E. Huston sold 10,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $364.66, for a total value of $3,646,600.00. Following the completion of the sale, the chief operating officer directly owned 104,416 shares in the company, valued at approximately $38,076,338.56. This represents a 8.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,708,333 shares of company stock worth $952,613,769 in the last quarter. Corporate insiders own 17.12% of the company's stock.

Carvana Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.